Tesla Model 3 becomes most popular EV to lease

The Tesla Model 3 has become the most popular electric vehicle (EV) to lease, according to Leasing.com’s league tables.

In one week, the new model generated more leasing enquiries than rivals cars (Audi e-tron and Jaguar I-Pace) managed in a month.

Paul Harrison, head of strategic partnerships at Leasing.com, said: “The Model 3’s popularity is down to several factors, with cost being one of them. Monthly prices for the Model 3 start at around £400 per month, which is almost half the cost of Tesla’s larger models. It also undercuts comparable EVs such as the Audi e-tron and Jaguar I-Pace.”

“Obviously the UK is one of the last countries to get the Model 3, and the long waiting period for right-hand drive models no doubt contributed to this huge early surge in interest too. It’s early days yet, but if the Model 3’s popularity continues at a comparable pace over the next few months, then Tesla could have delivered its first mass-market electric car.”

Combined interest in the Model 3, I-Pace and e-tron has seen EV enquiries increase 30% year on year during the first five months of 2019.

“This is a strong sign that lots of consumers are ready to make the jump to next-generation vehicles and leasing is offering them the ideal opportunity to test the waters,” said Harrison.

Tesla has been accepting orders for the Model 3 since May, when it announced UK pricing. It states that reservation holders – those who pre-paid a deposit – will have preferential delivery, but currently suggest a lead time of less than eight weeks on its website for new orders.

Elsewhere on the Leasing.com League Table, the Mercedes-Benz A-Class remains in pole position as the most popular personal lease car, while keen pricing of the E-Class saloon pushed the VW Golf into third position.

The all-new Range Rover Evoque jumped from eighth position to fourth, but Mercedes is still the most sought-after manufacturer among personal lease customers.

Matt has been an automotive journalist for four years. As senior staff writer he is responsible for the automotive content on Fleet News and also contributes to Automotive Management. Prior to this, Matt worked in the automotive industry for 10 years.